Finance committee backs land-disposition agreement for 1620 Hancock Street

The Quincy Finance Committee voted Sept. 8 to recommend approval of a land-disposition agreement (LDA) that would sell 1620 Hancock Street to a private developer, provided the buyer meets permitting and construction timelines required by the contract.

The agreement covers a roughly 11,000-square-foot vacant site that was taken by the city by eminent domain in 2022 and whose redevelopment officials say would be coupled with an adjacent parcel to create a larger downtown project. Committee members argued the deal would replace long-standing blight and boost tax revenue and private investment in the downtown.

Mr. Walker, speaking on behalf of Mayor Koch, told the committee the city acquired the property by eminent domain in 2022 for $2,200,000 and is proposing to sell it as part of a larger redevelopment package. "This is a site that sat vacant, blighted, and producing $12,000 in property taxes," Walker said. "When all said and done here, the two properties together will produce…